First-Time and Move-Up Home Buyers

NC Home Advantage Mortgage

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Down Payment Assistance:

Purchasing a home can be overwhelming and complicated. It is our goal to make it simpler by offering affordable mortgage options and connecting you with experienced home buying partners.


For both first-time and move-up home buyers, our NC Home Advantage Mortgage provides qualified individuals with stable, fixed-rate mortgages and down payment assistance up to 5 percent of the loan amount. The Agency also offers an $8,000 down payment assistance option—the NC 1st Home Advantage Down Payment—just for first-time buyers and military veterans who meet additional eligibility criteria.


Repayment of all of our down payment options is required only if you sell, refinance or transfer your home before year 15—the down payment assistance is forgiven at 20 percent per year at the end of years 11-15, with complete forgiveness at the end of year 15.

Am I Eligible?

You may be eligible for an NC Home Advantage Mortgag if:

  • You are purchasing a home in North Carolina.
  • You occupy the home as your principal residence within 60 days of closing.
  • Your annual income doesn’t exceed $89,500.
  • Your credit score is 640 or higher.
  • You are applying for an FHA, USDA, VA or conventional loan through a participating lender and meet the sales price limits of the loan type.
  • You are a legal resident of the United States.

What Properties are Eligible?

Eligible properties include:

  • Single-family homes
  • Townhouses
  • Condominiums
  • Duplexes
  • New manufactured homes (660 credit score required)

Ready to get started?

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